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Health reimbursement arrangements (HRAs) are employer-funded accounts that reimburse employees for their eligible out-of-pocket medical expenses on a tax-favored basis. Although HRAs provide significant tax benefits, they are subject to strict plan design rules.
However, a final rule expanded the use of HRAs, effective for plan years beginning on or after Jan. 1, 2020.
The different types of available HRA plan designs are:
HRAs integrated with group health plans (GHP-HRAs);
Individual coverage HRAs (ICHRAs);
Excepted benefit HRAs (EBHRAs);
Qualified small employer HRAs (QSEHRAs);
HRAs that only pay excepted benefits; and
Retiree-only HRAs.
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